Govt of India may further raise trade barrier on import of aluminium

Import of aluminium will likely get tougher in India soon. According to the industry sources, Government of India is mulling over the proposition to further raise trade barriers on import of a number of industrial metals including aluminium.

As per reports, investigations are going on to impose safeguard duty on aluminium and anti-dumping duty on steel. Several industry bodies have been demanding the government to start investigations in this line for quite some time now.

Despite promises against resorting to protectionist measures, almost all countries are reacting to slow growth by trying to protect their domestic industries by raising trade barriers. During the height of financial crisis, the G20 nations had pledged to refrain from erecting any new trade barriers.

However, due to certain developments in the world market scenario which categorically indicate towards non-competitive cross-border trade, economies are being forced to take a different course of action, the prime intention being protecting domestic industry from dumping onslaughts.

Indian government is looking at imposing further safeguard duty on imports of aluminium due to heavy imports from China and West Asia, reported industry sources.